India Equity Research Reports, IPO and Stock News Visit http://indiaer.blogspot.com/ for complete details �� ��
Views on markets today
· Indian shares on Thursday rose 0.7% to their highest close in seven weeks in thin year-end volumes, led by Infosys Technologies, Larsen & Toubro and gains in some automobile shares. State-run oil marketing firms Indian Oil Corp , Hindustan Petroleum and Bharat Petroleum fell between 1.5 to 3% after India deferred a decision on a possible increase in diesel and cooking gas prices. The Sensex ended up 133.04 points, at 20,389.07, with 25 of its components rising. It traded in a narrow range through the session on thin volumes, despite the expiry of monthly derivative contracts on Thursday.
· Market breadth was strong at 1.4x led by the strong buying the large cap stocks. FIIs bought equities worth Rs22bn while domestic institutions sold equities of Rs8.5bn
· Asian markets are higher today ahead of the end of the calendar year 2010.
· Hong Kong shares are up with moderate gains modestly in thin trading today, with property developers leading a broad-based advance amid expectations for a strong rally in global equities early next year. The Hong Kong market is only open for the morning session on the last trading day of the year. Japanese and Korean markets are closed today.
· We expect a positive opening for the Indian markets following the cues from the Asian markets. However, we may witness some volatility and lack of volumes as the investors will stay away from the markets on the last day of the current calendar year.
Economic and Corporate Developments
· India's infrastructure sector output grew 2.3% in November from a year earlier, slower than an upwardly revised annual growth of 8.6% in October.
· India's food price index rose 14.44% while the fuel price index climbed 11.63% in the year to December 18.
No comments:
Post a Comment